Face-to-face hand-in #2 with solutions (1).docx

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UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY BUSI 2160—Introductory Financial Accounting II 2017 Face-to-face hand-in assignment #2 Submission Requirements You must hand in your face-to-face submissions at the start of class . Late submissions will not be accepted. Face-to-face assignments must be typed. YOU MUST WORK ON YOUR OWN. INSTANCES OF PLAIGARISM WILL BE TAKEN SERIOUSLY. Part I: 1. How much depreciation and amortization expense did Dollarama record for the period ended January 31, 2016 and February 1, 2016? 2. What amount of property and equipment did Dollarama report on its January 31, 2016 Statement of financial position compared to February 1, 2016? 3. What are the different assets that comprise property and equipment (Hint: Look at Note 6 in the Financial Statements)? 4. What was the dollar value of additions to Vehicles between Feb.2, 2014 and Feb.1 2015? 5. What was the dollar value of dispositions to Computer Equipment between Feb.1 2015 and Jan.31 2016? 6. What is the net book value of Store and Warehouse Equipment on January 31, 2016
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Part II (3 questions): 1. Kyle Lowry Corporation (KLC) paid $270,000 to purchase machinery for use in its manufacturing operations. In addition, KLC incurred the following expenditures relating to the equipment:
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